Creating a will may be the last thing you consider in your life. It's not enjoyable to think of the world upon your passing. However, there are many reasons why you need to prepare your assets and estate for your death. By doing so, you can make sure that those that you leave behind will be taken care of and your possessions, property, and finances will be allocated according to your desires. As a family law practice in Orlando, our professional legal team can work with you to assist you in the creation of your will. There are many reasons why you need to create a will -- and soon.
Whenever you establish a will, you get to make all the choices regarding your assets after you pass. A will is a legal document that establishes exactly how your estate will be distributed. Without a will, your assets will not be distributed as you desire. Having a will can also prevent any family fights over your assets, because you will have made these clear choices in advance.
Many people are disgruntled by the amount of money they have to pay in taxes, and creating a will is one way to minimize the taxes you'll have to pay. The value of what you allocate to your family, friends, and charity will also minimize the amount of estate taxes you will have to pay afterwards.
By having a will, you will be in control of who becomes the executor of your estate. This is the person who will handle all of your affairs, such as closing out credit cards, paying any bills, and notifying any banks or financial institutions. You have the chance to choose someone who is reliable, trustworthy, and responsible.
Many people love to embed charitable donations into their will to allow their legacy to live on after they pass. They choose charities and causes that are close to their heart, and then they leave a sum of money to them. Any charitable gifts are also exempt from the estate tax in the amount up to $13,000, which is another benefit of creating a will and maximizing your assets.
Regardless of if you have a will or not, all estates require probate court proceedings. These courts help ensure that your estate is properly handled and administered. However, when you have a will, this process goes much quicker. This gives you to have a voice, even though you won't be present.
By creating a will now, you will ensure that your loved ones are secure if you were to pass. Even though it is not a comfortable topic, it helps guarantee that you still have a say in where your prized possessions go after you are gone. Contact Your Orlando Lawyer today to get started creating a will with our professional and qualified legal team.